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Find the price that will maximize profit for the demand and cost functions, where p is the price, x is the number of units, and C is the cost. Demand Function p= 78-0.1 square root x Cost Function

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter6: Proudction Costs

Section: Chapter Questions

Problem 5SQP

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Question

Find the price that will maximize profit for the demand and cost functions, where p is the price, x is the number of units, and C is the cost.

Demand Function

p= 78-0.1 square root x

Cost Function

C = 33x + 550

$ =

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